Thomas Cook has trimmed losses in its first quarter as deep cost-cutting offset a fall in sales caused by political turmoil in Egypt.
The British travel group on Tuesday said losses before interest payments and tax narrowed to STG56 million ($A103.21 million) in the three months to the end of December last year.
That marked a modest improvement from a loss of STG66 million in the equivalent period of 2012.
Total sales eased 0.9 per cent to STG1.7 billion in the reporting period.
"The whole European travel industry was hit by the decline in the Egypt market and we were no exception," chief executive Harriet Green said in a conference call with journalists on Tuesday.
"We are very encouraged to see people beginning to return, particularly from the UK, Germany and Russia."
